Tanzanian Royalty Announces More Results From Eastern Porphyry With Multiple Narrow Mineralized Intercepts Per Hole Grading 12.14g/t Au Incl. 15.59 g/t Au; 14.4 g/t Au and 11.6 g/t Au
Tanzanian Royalty Exploration Corporation is pleased to announce that
new assay results from its ongoing diamond drill program at the Eastern
Porphyry on the Buckreef Gold Project in Tanzania have been received and
confirm the continuity along strike of thin, en echelon-type mineralized
zones of low to high grade mineralization.
Significant intercepts reported include:
Drill hole BMDD 210 intersected the following zones of
mineralization down the hole:
3m grading 0.62 g/t Au from 95m
2.75m grading 0.83 g/t Au from 136.25m
1.0m grading 11.60 g/t Au from 140m
2m grading 1.75 g/t Au from 143m
1.0m grading 2.11 g/t Au from 166m
10m grading 1.89 g/t Au from 181m, incl. 2m grading 3.9 g/t Au from
184m and,
2m grading 1.75 g/t Au from 258.
Drill hole BMDD 211 intersected the following zones of
mineralization down the hole:
1.0m grading 1.76 g/t Au from 89m
0.75m grading 14.40 g/t Au from 97m
2m grading 12.14 g/t Au from 233m, incl. 1.5m grading 15.59 g/t Au
from 233m
1.0m grading 1.15 g/t Au from264m
1.0m grading 1.84 g/t Au from 267m
3.7m grading 1.05 g/t Au from 275m and,
1.0m grading 1.85 g/t Au from 280m.
The Eastern Porphyry target is located approximately 800m east of
Buckreef Main Zone. Gold mineralizations at Eastern Porphyry occur in a
sequence of fine grained basalts to medium grained dolerites. This mafic
package has been intruded by a series of porphyritic felsic dykes. The
dykes are typically pink in colour and possess both quartz and feldspar
phenocryst phases in a fine-grained ground mass. The target area has
been partially drilled and drilling continues at this zone.
The intersection reported here is a down-hole length and may not
represent true width but the true width is estimated to be 50 ? 60%.
Mr. Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania)
commented, 'We are pleased to see the drilling at the Eastern Porphyry
returning exciting results as the drilling progresses, increasing our
confidence in the additional potential the prospect might possess. The
intercepts are being encountered where predicted. The Eastern Porphyry
multiple vein system is one of the potentially significant discoveries
made this year in terms of gold grade, intercept width, strike length
and the potential for extensions with further drilling.'
Sample Protocol and QA/QC
The sample chain of custody is managed by the Buckreef technical team
under the supervision of Anthony Minde. Gold analyses reported in this
release were performed by standard fire assay using a 50-gram charge
with atomic absorption finish (0.01ppm LLD) and a gravimetric finish for
assays greater than 10 grams per tonne. All assays were performed by SGS
Laboratory in Mwanza. Sampling and analytical procedures are subject to
a comprehensive quality assurance and quality control program. The QA-QC
program includes duplicate samples, blanks and analytical standards.
Intervals of core to be analyzed are split in half with a mechanized
core cutter with one half to be sent to the laboratory for geochemical
analysis and the remaining half to be kept in the storage for future
reference and uses.
SGS Laboratory is ISO 90001 and 17025 accredited and employs a
Laboratory Information Management System for sample tracking, quality
control and reporting.
Qualified Person
The Company′s Qualified Person, Mr. Peter Zizhou, has reviewed and
approved the contents of this news release. Mr. Zizhou has a Master of
Science (Exploration Geology) degree from the University of Zimbabwe
(2000) and is a registered professional natural scientist with SACNASP
(Reg. No. 400028/08).
Respectfully Submitted,
Joseph Kahama
Chairman and Chief Operating Officer (Tanzania)
For further information, please contact Investor Relations at
1-800-811-3855
Visit our website: www.TanzanianRoyalty.com
The
Toronto Stock Exchange and NYSE MKT LLP have not reviewed and do not
accept responsibility for the adequacy or accuracy of this release
Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission limits disclosure for U.S. reporting purposes to
mineral deposits that a company can economically and legally extract or
produce. We use certain terms on this news release, such as 'reserves?,
'resources?, 'geologic resources?, 'proven?, 'probable?, 'measured',
'indicated', or 'inferred' which may not be consistent with the reserve
definitions established by the SEC.U.S. Investors are urged to
consider closely the disclosure in our SEC filings.You can
review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml
This news release contains certain forward-looking statements and
forward-looking information. All statements, other than statements of
historical fact, included herein are forward-looking statements and
forward-looking information that involve various risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from
time-to-time with the British Columbia, Alberta and Ontario provincial
securities regulatory authorities.
Certain information presented in this release may constitute
'forward-looking statements? within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based on numerous assumptions, and involve known and
unknown risks, uncertainties and other factors, including risks inherent
in mineral exploration and development, which may cause the actual
results, performance, or achievements of the Company to be materially
different from any projected future results, performance, or
achievements expressed or implied by such forward-looking statements.
Investors are referred to our description of the risk factors affecting
the Company, as contained in our SEC filings, including our annual
report on Form 20-F and Registration Statement on Form F-10, as amended,
for more information concerning these risks, uncertainties, and other
factors.
To view this press release as a webpage, please click on the following
link:
http://www.fscwire.com/pr/tanzaniannov262012.htm
Tanzanian Royalty Exploration Corporation
James Sinclair,
1-800-811-3855
investors@TanzanianRoyalty.com
Website:
www.TanzanianRoyaltyExploration.com
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